Influence policy to improve business growth

A high profile business survey is asking leaders across the Sheffield City Region how the current economic climate is affecting business conditions. It particularly focuses on cash management as the UK is seeing pressure on supply chains, pay settlements, and potential issues around Brexit.

Hundreds of businesses will take part in the survey, which forms part of the national Quarterly Economic Survey carried out by the British Chambers of Commerce and is used to shape local, regional and national policies.

Richard Wright, Executive Director of Sheffield Chamber of Commerce said: “The Sheffield City Region Quarterly Economic Review is an important vehicle for key stakeholders to keep abreast of business sentiment and ensure local, regional and national policies are addressing their needs.

“This quarter the survey asks businesses whether they are been affected by issues like the Carillion collapse, pay pressures and even late payments from customers. Brexit is an issue rapidly approaching us and tighter border controls could lead to delays in shipping and payments.

“The survey feedback is used to ensure the right business support and policies are in place to protect their work going forward, and to allow us to lobby effectively to support them.”

The survey is run by the Sheffield City Region’s four Chambers of Commerce with the backing of the Local Enterprise Partnership and Growth Hub and Sheffield University Management School. They use the results to help shape business support structures and influence decision-makers about the policies needed to encourage regional business growth and a thriving economy.

Locally, councils and MPs use the results as a way of road testing the progress being made through their business and education strategies that address issues such as the skills gap, business rates and infrastructure.

The Sheffield City Region Quarterly Economic Review is part of the UK’s biggest business survey run through the British Chambers of Commerce network and polls around 10k businesses each quarter to monitor business trends on key issues such as skills, capacity constraints, payment settlements, international trade intentions and other hot topics.

The nationally combined results are used by the British Chambers of Commerce to inform Governmental policy-makers and by the Bank of England and Treasury when making monetary policies and setting rates.

The survey, which only takes three minutes to complete, is open until 12 March and can be taken by CEOs or senior managers to do a quick sense check on how their business is faring in terms of recruitment, sales, profits, turnover, entering new markets and other key business issues. Survey entrants will be entered into a free prize draw to win corporate tickets to watch Fast & Furious Live at FlyDSA Arena, courtesy of Doncaster Sheffield Airport.